, October 6, 2025
News Summary
A bank loan package of up to approximately PLN 176 million has been arranged to finance the construction of a 72-site portfolio of photovoltaic farms across Poland, with a combined connection capacity of about 75 MW. The financing was provided by PKO Bank Polski and supported by legal advisory from an international law firm, including ISDA hedging documentation and full legal due diligence. The funding covers construction-phase needs, permits and grid-connection milestones for a Danish developer. The deal reflects market shifts toward larger ground-mounted projects, curtailment risks, and growing interest in storage and hedging solutions.
Bank financing of up to approximately PLN 176 million approved for 72 photovoltaic farms across Poland
A bank loan package worth up to approximately PLN 176 million has been arranged to finance the construction of a portfolio of 72 photovoltaic (PV) farms across Poland, with a combined connection capacity of around 75 MW. The financing was provided by PKO Bank Polski and involved legal advisory services from a major international law firm. The funds are earmarked for a Danish developer and investor specialising in PV farms and battery storage projects operating across Europe.
What the deal covers
The loan supports the construction phase of the 72-site portfolio and includes customary financial and project documentation. The legal advisory work for the lender covered preparation, negotiation and execution of the finance papers, the preparation of ISDA hedging documentation and full legal due diligence on the investment and project assets. The transaction also involved review of project-related permits, grid connection statuses and other development milestones needed to move each site into construction and commissioning.
Who took part
The lender’s in-house financing team included four named specialists who managed the bank-side work. The borrower’s transaction team comprised four representatives from the Danish developer. On the advisory side, the legal team was led and supervised by senior banking and energy practice lawyers, supported by counsel, associates and a junior associate who handled project due diligence, documentation drafting and hedging paperwork.
Why the deal matters now
The project portfolio arrives at a time of rapid growth and structural change in Poland’s solar market. National figures show solar capacity in Poland reached roughly 21,994 MW by the end of the first quarter of 2025, an increase of about 637 MW in that quarter alone. The market is shifting toward larger ground-mounted farms: the share of farms above 1 MW rose significantly during the first three months of 2025.
At the same time, system operators are increasingly using curtailment as a regular balancing tool, and price dynamics for solar output on the energy market are placing pressure on revenues. These trends are prompting developers and lenders to plan for hybrid projects and storage solutions, to consider flexible off-takers such as heating consumers, and to use financial hedging and long-term contractual structures more frequently.
Project status and permitting context
Development milestones in Poland remain critical to access certain national support mechanisms. A separate industry report indicates there are thousands of PV projects at various stages of grid connection and permitting, with a significant portion already holding connection conditions and a subset having secured building permits. Participation in some renewable energy support auctions is restricted to projects that already hold building permits, increasing the importance of timely completion of permitting and grid agreements.
Legal and financial instruments used
The transaction included ISDA-based hedging documentation to manage market and price risk, alongside standard loan agreements and project security packages. Legal due diligence covered title, permits, grid connection arrangements, construction contracts and project company corporate matters. These steps aimed to align bank credit terms with project execution risk and expected revenue profiles, including consideration of potential curtailment and market price variability.
Notable industry context
The portfolio adds to the wave of larger-scale projects now being prioritised by developers in Poland. The market data referenced shows a decline in the share of small micro-installations and medium-sized rooftop or smaller ground-mounted installations, while large farms have gained share. The combination of falling profile prices and more frequent curtailment is slowing some investment activity, making bank financing decisions and robust legal frameworks increasingly important for project delivery.
Contact and legal notes
For transactional enquiries, several advisory contacts and telephone numbers were listed as part of the advisory announcement. The advisory firm noted standard legal disclaimers and stated that its communications are not designed to provide legal or other advice and that unsolicited materials will not be treated as confidential. The advisory announcement also included a brief corporate identity and copyright notice dated 2025 and a short advertising disclosure.
The advisory announcement included a short slogan used in firm branding: Redefining possibilities. Together, everywhere.
FAQ
Q: Who is providing the financing?
A: The financing is being provided by a major Polish bank, arranged with legal advisory support for the lender.
Q: Who will build and operate the PV farms?
A: A Danish investor and developer specialising in PV farms and battery energy storage systems will develop and operate the portfolio.
Q: How large is the project portfolio?
A: The portfolio consists of 72 PV farms with a combined connection capacity of about 75 MW.
Q: What legal and financial protections were used?
A: The transaction included financial documentation, ISDA hedging agreements to manage market risk, project security arrangements and full legal due diligence on permits and contracts.
Q: How does this fit into Poland’s solar market?
A: The portfolio contributes to a market that has surpassed 21.9 GW of installed solar capacity and is seeing a shift toward larger-scale farms and increased use of curtailment as a system tool. Permitting and grid connections remain key gating factors for support scheme eligibility.
Q: Where can I find more information about the advisory firm’s notice?
A: The advisory announcement referenced firm legal notices, corporate identity statements and a 2025 copyright statement; readers were advised that the announcement is not a substitute for legal advice.
Key project features
| Feature | Detail |
|---|---|
| Financing amount | Up to approximately PLN 176 million |
| Number of PV farms | 72 |
| Total connection capacity | Approximately 75 MW |
| Lender | Major Polish bank |
| Developer / investor | Danish PV and BESS developer active across Europe |
| Legal advisory scope | Preparation, negotiation and signing of finance documentation; ISDA hedging documentation; legal due diligence |
| Project risks addressed | Permits, grid connections, construction contracts, curtailment and market price volatility |
| Market context | Poland solar capacity ~21,994 MW at end Q1 2025; trend toward larger projects and increased curtailment |
Legal notice summary: The advisory announcement contained standard firm legal notices, an advertising disclosure and a 2025 copyright statement. Communications in the announcement were not designed to provide legal advice. Readers should not send confidential information unless they already have an established client relationship with the advisory firm.
Deeper Dive: News & Info About This Topic
Additional Resources
- Renewables Now: PGE gets financing for 40 MW of solar projects in Poland
- Wikipedia: Solar power in Poland
- pv magazine: Poland added 637 MW of solar during Q1
- Google Search: Poland solar Q1 2025
- Renewables Now: ib vogt refinances 175 MWp solar park duo in Poland
- Google Scholar: IB Vogt Poland solar refinancing
- pv magazine: Poland deploys 4 GW of PV in 2024
- Encyclopedia Britannica: Renewable energy in Poland
- pv magazine: Poland allocates record budget for home solar & storage rebate scheme
- Google News: Poland home solar storage rebate 2025
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